Estoppel

NAB v Menere [2010] NSWSC 381

The lender alleged the borrower defaulted under the mortgage and sought possession. The borrower filed a defence raising an estoppel argument which alleged that the loan was part of development finance arrangement (consisting of representations made by the bank) whereby the bank was to finance the construction of residential units and, in the meantime, allow …

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ACN 113 137 397 v Winterbottom [2010] NSWSC 421

The loan went into default and a receiver appointed by the lender served an eviction notice on the lessee. The lessee approached the court and sought an injunction. The receiver resisted the injunction raising s 53(4) of the Real Property Act which reads: A lease of land which is subject to a mortgage, charge or …

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RHG Mortgage Corporation v DLC Properties [2009] NSWSC 990

In this case the borrower admitted default under the mortgage but resisted possession on the basis of representations made by ‘Raymond the talking Ram’. The borrower pointed to a television commercial in which Raymond said; RHG formally known as Rams Mortgage Corporation Ltd has always been known for its low rates. So we’ve kept our standard …

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Equititrust v Norman Clifford Boyle and Richard Lee Woods

In this case the lender sought to enforce guarantees against the defendants. Mr Norman Clifford Boyle entered into an arrangement under Part X of the Bankruptcy Act and so did not take part in hearing. Richard Lee Woods represented himself and argued that the guarantee was unenforceable until the main security had been sold. He …

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Lawteal Seconds v Warrimoo Property [2007] NSWSC 1124

In this case the borrower received a letter of offer to refinance from a company associated with the lender’s solicitor. The borrower argued that proceeding with the eviction would amount to a breach of the promise. However the court ruled that the lender has not issued the letter of offer and could not be bound …

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Perpetual Trustee Company v Kinsella [2006] NSWSC 1005

In this case, the lender sought possession. The bankrupt borrower claimed the lender’s solicitor had told him a lesser sum would be accepted in full and final satisfaction of the debt.  Normally a bankrupt would not be allowed to mount a defence. However the judge gave permission because there seemed to be a conflict in …

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NAB v Grose [2006] NSWSC 979

In this case NAB was suing Grose on his guarantee. Grose claimed NAB only needed to call on the guarantee because it had negligently exercised its power of sale over the primary security being a shopping centre in Queensland. Naturally the extent of the losses thus claimed were enough to cancel out the amount claimed …

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Clarkson v State Bank of New South Wales [2006] NSWSC 903

The borrower alleged: the Bank represented an overdrawn cheque account in his name would be “frozen” for a sufficient period of time to allow him to complete a subdivision of his residential property; the Bank represented it would delay legal proceedings for the recovery of outstanding debt, and that it would advance to him, against …

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Dong v Monkiro [2005] NSWSC 749

A loan deed was entered into whereby the plaintiff agreed to lend the defendant $1.1 million for the purpose of a townhouse development. The issue arose of whether it was open for the loan agreement to operate retrospectively (in respect of payments already made) and whether interest payable on those amounts was a penalty. There …

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